It has been reported that AI startup Phacet has raised $4.4 million for its small business solutions. Based in Paris, Phacet is working to expand its AI applications across various sectors including e-commerce, industry, and finance, targeting small and medium-sized enterprises.
Nicolas Marchais, founder and CEO of Phacet, stated that the support from investors will enable them to advance their mission, which is to bridge the gap between rapidly evolving AI models and the specific needs of small and medium-sized enterprises. This will allow them to move from a desire to integrate AI to implementing it across different departments.
Phacet collaborates with clients to identify the necessary applications for enhancing business processes. From there, clients can participate in the AI Bootcamp on the Phacet platform, where they work alongside Phacet's AI engineers and their own teams to create AI applications.
The company claims that the integration of a centralized platform and a single supplier can bring businesses a consistent experience, data connectivity, and cost control. Phacet's funding comes at a time when AI is no longer the exclusive domain of large, financially robust companies. Small and medium-sized enterprises are now leveraging AI in ways that are suitable for their scale and operations.